September 21, 2017

On Thursday, the S&P 500 was down 0.3% while Toronto was up 0.5%.

Canadian Tire was up 2.2%.

AutoCanada was up 2.2%.

Statistics Canada reported on investment in new home construction in July which as up 6.4% nationally from the prior year. I pay particular attention to investment in single family homes in Alberta. This was up 34% versus July 2016. That’s impressive but it would have been boosted by replacing homes destroyed in the Fort McMurray fire. And the amount remains 6% below the July 2015 level and 24% below the level of 2014 (which was likely a peak). Overall, the pace of single family housing investment in Alberta shows a good recovery from the depths of the energy recession and bodes well for Melcor Inc.

Statistics Canada also reported positive results for wholesale trade in July, with particularly strong growth in Alberta.